There are different types or chapters of bankruptcy that individuals can file depending on their circumstances. There are certain types of bankruptcy that only apply to businesses and others that are primarily useful for those in specific professions, like farming....
Filing bankruptcy can have a big ripple effect on your personal and professional life for quite a while. You will most likely have a lot of questions about what you are and are not permitted to do. Some of those questions may understandably pertain to your credit...
It’s not impossible to get your student loans discharged in bankruptcy, but it’s not exactly easy, either. Most people who file bankruptcy will still have those debts when they’re done. If your student loans are a major source of your financial distress and are...
Debt is still viewed as a taboo subject at times. Anyone in financial hardship can be misconstrued as being reckless with their money. The truth is that many American households are struggling financially through no fault of their own. Debt can leave you wondering...
A key part of filing for Chapter 7 bankruptcy in Mississippi is passing the means test. The means test is a two-part test to determine whether you qualify for bankruptcy relief. In other words, can you afford to repay your debts with the amount of disposable income...
Chapter 7 bankruptcy may provide the best solution to a debtor's woes. Dealing with an incredible amount of debt, combined with low or no income, could make paying obligations impossible. Federal bankruptcy law provides an option for Mississippi residents unable to...
When Mississippi residents file Chapter 7 or Chapter 13 bankruptcy petitions, the judge assigned to the case issues a Notice of Filing. This causes an injunction known as an automatic stay to go into effect, which prevents creditors from attempting to collect unpaid...
Mississippi consumers who are overwhelmed by their financial obligations might have an out through Chapter 7 bankruptcy. This requires debtors to sell off their non-exempt property through a trustee. The trustee values the assets and uses the funds from sales to pay...
Filing for Chapter 7 bankruptcy can have a significant impact on your credit score. However, there is no guarantee that your score will go down after your debts are discharged by a Mississippi judge. In the event that your score does go down, it may be possible to...
It's important to decide if Chapter 7 bankruptcy is the right option for your financial situation and if it'll offer relief in Mississippi if you've accumulated a significant amount of debt in recent years. It may be the right step to take if it'll discharge enough of...